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"If it wasn’t China, the US would be importing goods from elsewhere." Other places don't cheat with market access or steal IP anywhere as much as China. Any ec
by yyyk 7y ago
"If it wasn’t China, the US would be importing goods from elsewhere."
Other places don't cheat with market access or steal IP anywhere as much as China. Any economic rebalancing would have been far more gradual.
"What the US hasn’t done, is spread the benefits of trade internally. The US economic problems stem from whatever led to a small percentage of the economy pocketing the vast gains."
You mean policies such as open trade with China, which was inherently biased towards profits to the top, given the way offshoring worked?
This does not mean there weren't other factors at work, rather that China trade was one policy in an array of policies with a similar outcome.
"But it’s always easier to blame Johnny Foreigner and people have been doing it for millennia, so there’s no reason to believe the US would be immune from it. "
My country profited from the US's Free Trade advocacy, and I still think the US's China policy was either insane or driven by elite concerns. It's one thing to have free trade, another to have one-way free trade with a country that cheated so openly, and is now a superpower competitor.